Oilfield Services

The headwinds resulting from low natural gas and oil prices have driven Helmerich & Payne Inc. (H&P) toward opportunities to showcase the capabilities of the high-tech rig fleet and drilling solutions, according to CEO John Lindsay. The energy industry faces challenges nearly every year, but as the market zigs and zags, there are other ways…

Permian Basin-focused ProPetro Holding Corp. is giving its exploration customers more of what they want – electric and dual-fuel fleets – as it continues to industrialize its business, CEO Sam Sledge said. The Midland, TX-based completions expert works across the Lower 48, with most of the exploration and production (E&P) work centered in the Permian.…

Contract driller Patterson-UTI Energy Inc. has no plans to add drilling or completion capacity in the Lower 48, as activity is forecast to remain flat through the year, but opportunities exist to enhance and expand the natural gas-powered fleets, CEO Andy Hendricks said. Speaking to analysts during the recent quarterly conference call, Hendricks said the…

North American exploration customers have pulled back on activity, but that may change later this year as line-of-sight focuses on ramping up more U.S. LNG capacity in 2025, according to Houston-based NOV Inc. The oilfield services giant, which provides equipment and services for exploration and production (E&P) companies worldwide, secured higher-than-expected sales in the final…

U.S. exploration companies have expressed uncertainty about the direction of the energy markets this year, but one thing they are sure about is natural gas-powered pressure pumping fleets, which should support “durable, multi-year” opportunities, top oilfield executives said. Halliburton Co., one of the world’s largest oilfield services (OFS) companies, and Liberty Energy Inc., the No.…

The world is on track to achieve 800 million metric tons/year (mmty) of LNG capacity by 2030, with Baker Hughes Co. expecting to grab a major slice of the market, executives said Wednesday. CEO Lorenzo Simonelli, joined by CFO Nancy Buese, discussed the Houston-based oilfield service giant’s latest quarterly results and the outlook during a…

Oilfield services (OFS) employment in the United States slowed a bit in December versus November, dropping by 941 jobs, according to an analysis of government data by the Energy Workforce & Technology Council. The trade association represents more than 650,000 U.S. jobs in the energy value chain. During the month, job availability across the sector…

International markets including Latin America are now showing more robust upstream activity growth than North America, according to the top oilfield services firms. The management teams of SLB, Halliburton Co., Baker Hughes Co. and Weatherford International plc said exploration and production (E&P) projects outside of North America, particularly in the offshore segment, drove incremental revenues…

The global energy sector is benefiting today from long-cycle developments, SLB CEO Olivier Le Peuch said Friday, lifted by more carbon capture expansions, offshore exploration and the realization that “natural gas is a critical source for the energy transition.” During a third quarter conference call, Le Peuch offered his insight into results for the world’s…